Coromandel International Management Guidance Tracker

Management expects full-year manufacturing EBITDA for NPK and DAP to be in the range of INR 5,500-6,000 per ton, considering raw material prices, subsidy, and operational efficiencies.

Management expects full-year EBITDA per ton for NPK fertilizers to be around INR 5,000, supported by backward integration and potential MRP increases.

Management expects EBITDA per ton in the range of INR 4,500-5,000 for FY25, driven by improved NBS rates and operational efficiencies.

Management confirmed the earlier guidance for fertilizer EBITDA per ton remains unchanged despite Q1 margin pressure.

Structural cost advantage from captive sulfuric acid production and power generation, expected to double from current INR 40-45 crore.

Management reiterated sustainable EBITDA per ton range for fertilizer business, supported by backward integration and captive intermediates.

Management confirmed the target of INR 5,000 per ton EBITDA for the fertilizer business remains intact for FY26.

Management expects normative EBITDA of ₹5,000 per metric ton to sustain during FY26, despite input cost volatility.

Management reiterated confidence in maintaining at least INR 5,500 EBITDA per metric ton in the second half, supported by operational efficiencies and backward integration benefits.

Despite raw material headwinds, management expects to sustain annualized EBITDA of INR 5,000-5,500 per ton for FY26, supported by inventory management and price hikes.

Management expects standalone crop protection EBITDA margin to remain at current levels, supported by currency depreciation and pass-through of input costs.

The Nano DAP plant in Karnataka will be commercialized in October 2023, with initial capacity of 4 million bottles per annum. The product will target northern states with high DAP usage.

The company plans to introduce specialty chemical products in the second quarter by leveraging existing assets and technical capabilities.

Management expects CDMO contracts to conclude and contribute within 18 months, with discussions ongoing with Japanese and European innovators.

Management is evaluating debottlenecking options at existing plants to increase capacity, with details to be shared in the next call.

The Nano DAP plant at Kakinada with 1 crore bottle capacity is awaiting regulatory approvals and expected to start production in June 2024.

New fixed processing plant at BMCC Senegal expected to complete trial runs by end of September, stabilizing production in H2.

Management expects nano DAP to replace 20-25% of industry DAP consumption over the medium term, with Coromandel focusing on import-substitution states.

Aiming to reach 800,000 tons next year and 1 million tons thereafter, with 60% from value-added products.

Company plans to double drone fleet and cover 5,00,000 acres of drone spraying in the current year.

Current year target of 300,000 tons from Senegal mine; next year aim to scale to 500,000 tons with additional investments.

Management targets 20-25% annual growth in domestic branded formulation business, driven by new product launches and market expansion.

Planned volume increase from 3.5 lakh tons to ~4.5-4.9 lakh tons, supported by stabilized operations.

The Nano DAP plant at Kakinada is expected to be commissioned in Q3 FY24, pending regulatory approvals, with capacity of 1 crore bottles per year.

Company plans to add 50 new retail stores by end of FY24, expanding footprint in new markets.

Plans to debottleneck granulated capacity at Kakinada and Vizag, adding 3.5 lakh tons.

Board approved expansion of granulation capacity at Kakinada by 1 million ton; investment decision pending current project progress.

Board approved 7.5 lakh tonne brownfield expansion, making it one of India's largest phosphate sites. Commissioning expected in ~2 years.

New granulation plant to be commissioned in 24 months, targeting commercial production from Q4 FY27.

Ongoing project expected to be commissioned by Q4 of next fiscal year (FY26).

Currently at 810 stores; plan to add significantly in Q4 and next year to reach 1,500+ by FY27.

Regulatory approvals for the NACL acquisition are expected by Q2 of the current financial year.

After a 20% debottlenecking, the company plans a further 30% capacity expansion at Sarigam to meet rising global demand.

The company plans to invest INR 1,000 crore in three multipurpose plants for crop protection, with first plant at Dahej under evaluation.

Board approved setting up a sulfuric acid plant at Karnataka fertilizer unit and a 200,000-ton phosphoric acid plant at Kakinada, with total capex of ~₹2,000 crore.

Total capital expenditure for FY25 is estimated between INR 1,200 crore and INR 1,500 crore across multiple businesses.

INR 170 crore investment for off-patent fungicide molecules; commissioning in 18 months. Targets Latin American and domestic markets.

The phosphoric acid and sulfuric acid plants at Kakinada are 45% complete and on track for commissioning in the last quarter of FY26.

The 7.5 lakh tonne granulation project is on track and expected to be commissioned in Q4 of FY27 (Jan-Mar 2027).

The phosphoric acid and sulphuric acid backward integration project is 70% complete and likely to be commissioned in Q4 of current financial year.

Mechanical completion expected in December, trial runs in January, and commercial production by second/third week of January. Plant will improve cost profile significantly.

The sulfuric acid and phosphoric acid plant at Kakinada will be commissioned in Q4 FY26, expected to lift annualized EBITDA to INR 6,500 per ton.

Project to expand granulation capacity is on track for commissioning by December of this financial year.

Company's patented Nano DAP has received encouraging market response; Kakinada nano plant to be ramped up.

Management expects high double-digit revenue growth in crop protection for FY26, supported by new products and export demand.

Combined Coromandel and NACL crop protection business expected to reach INR 5,000 crore revenue on an annualized basis, positioning among top 3-4 players in India.

Driven by new product launches (6 new products), capacity expansion at Dahej and Sarigam, and aggressive domestic formulation growth.